I was in the same boat as you buckharden and went with the tried and true 30-06 in a Winchester M70 featherweight. With scope the whole package still weighs less than 9lbs too. Now several deer and one elk later I'm looking to add to my hunting rifle collection to be able to confidently harvest game at any angle and extend the '06 range a bit too. My 30-06 shoots all manufacturer's 165gr bulletstried thus far sub-moa to 200yds and like others already said I can buy more 30-06 ammo anywhere ... 30-06 ammo, even with premium hunting bullets are still pretty cheap when compared to less popular cartridges like Weatherby, etc. Recoil is also pretty mild (with the nice sissy pad I have on ittoo! ) so quick follow up shots can be done as well.

I'm looking to step up to at least the 300 wm and probably the 338 wm now. I've considered the new 300 wsm and the 325 wsm as well, but am leaning towards the more proven ones - and the long vs. short action issue isn't a concern for me. Also, I don't have anything against the .270 or 7mm for that matter. Many, many elk have fallen to both and I wouldn't hesitate to use either on elk myself. My proven 30-06 will become the back-up on hunting trips and the go to rifle when going after smaller game - like Alsatian discussed above.